Nortel

Published: 2009-03-05

Nortel Networks Corporation is a global supplier of telecommunications equipment and solutions, which designs, develops, manufactures, installs and supports telecom systems. The Canadian-based company was already incorporated in 1895 as Northern Electric & Manufacturing Company Ltd. and produced telephones as well as street call boxes for the police. In 1976, it assumed the name Northern Telecom Limited, and in 1995, for its 100-year anniversary, it streamlined its identity to Nortel. As Nortel Networks, the name that evolved after the 1998 acquisition of Bay Networks, the company re-engineered itself towards the Internet, offering solutions for global networking. In order to solidify its independence from BCE - Bell Canada Enterprise, one of its major shareholders - effective since May 2000, BCE's share in Nortel Networks was reduced from about 36% to 2%.